QuantumScape Co. (NYSE:QS) Receives $6.62 Average Price Target from Brokerages

QuantumScape Co. (NYSE:QS) has received an average rating of “Reduce” from the eight brokerages that are presently covering the company, Marketbeat Ratings reports. Three research analysts have rated the stock with a sell recommendation, four have assigned a hold recommendation and one has assigned a buy recommendation to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $6.62.

QS has been the subject of several analyst reports. Wolfe Research began coverage on QuantumScape in a research note on Thursday. They issued an “underperform” rating for the company. Truist Financial restated a “hold” rating and issued a $7.00 price target (up from $6.00) on shares of QuantumScape in a research report on Monday, August 5th.

QuantumScape Trading Down 1.1 %

Shares of NYSE:QS opened at $5.37 on Monday. The company has a market cap of $2.68 billion, a PE ratio of -5.59 and a beta of 4.59. QuantumScape has a 12-month low of $4.67 and a 12-month high of $10.03. The stock has a 50 day moving average of $6.25 and a 200 day moving average of $5.90. The company has a current ratio of 8.66, a quick ratio of 8.66 and a debt-to-equity ratio of 0.03.

QuantumScape (NYSE:QS) last released its quarterly earnings results on Wednesday, July 24th. The company reported ($0.25) earnings per share for the quarter, missing the consensus estimate of ($0.22) by ($0.03). During the same quarter last year, the firm posted ($0.26) earnings per share. As a group, equities research analysts expect that QuantumScape will post -0.91 EPS for the current year.

Insider Buying and Selling

In related news, CTO Timothy Holme sold 44,306 shares of the company’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $6.11, for a total transaction of $270,709.66. Following the completion of the sale, the chief technology officer now directly owns 1,168,496 shares in the company, valued at approximately $7,139,510.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Mohit Singh sold 173,224 shares of the business’s stock in a transaction on Thursday, July 11th. The stock was sold at an average price of $7.04, for a total transaction of $1,219,496.96. Following the transaction, the insider now directly owns 1,196,905 shares in the company, valued at approximately $8,426,211.20. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CTO Timothy Holme sold 44,306 shares of the company’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $6.11, for a total value of $270,709.66. Following the transaction, the chief technology officer now directly owns 1,168,496 shares in the company, valued at $7,139,510.56. The disclosure for this sale can be found here. Insiders sold 1,112,281 shares of company stock valued at $6,547,435 over the last 90 days. Corporate insiders own 10.18% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. New York State Common Retirement Fund lifted its stake in QuantumScape by 0.6% during the 4th quarter. New York State Common Retirement Fund now owns 235,700 shares of the company’s stock valued at $1,638,000 after acquiring an additional 1,481 shares during the period. Spire Wealth Management lifted its position in QuantumScape by 39.0% during the fourth quarter. Spire Wealth Management now owns 5,350 shares of the company’s stock valued at $35,000 after purchasing an additional 1,500 shares during the period. 180 Wealth Advisors LLC boosted its holdings in QuantumScape by 2.7% in the second quarter. 180 Wealth Advisors LLC now owns 79,741 shares of the company’s stock valued at $392,000 after purchasing an additional 2,059 shares during the last quarter. Amalgamated Bank grew its position in QuantumScape by 5.6% during the 4th quarter. Amalgamated Bank now owns 45,784 shares of the company’s stock worth $318,000 after purchasing an additional 2,432 shares during the period. Finally, CWM LLC raised its stake in shares of QuantumScape by 56.0% during the 2nd quarter. CWM LLC now owns 7,124 shares of the company’s stock valued at $35,000 after buying an additional 2,556 shares during the last quarter. Hedge funds and other institutional investors own 29.87% of the company’s stock.

About QuantumScape

QuantumScape Corporation, a research and development stage company, focuses on the development and commercialization of solid-state lithium-metal batteries for electric vehicles and other applications. The company was founded in 2010 and is headquartered in San Jose, California.